Introduction of Electric Mobility Promotion Scheme 2024

GS Paper III Indian Economy

Context

Electric Mobility Promotion Scheme 2024 (EMPS 2024) scheme is being introduced by the Ministry of Heavy Industries, to further accelerate the adoption of EVs in the country.

Eligible EV categories: Two Wheelers (electric) (e-2W), Three-wheeler (electric) including registered e-rickshaws & e-carts and L5 (e-3W)
Applicability: The scheme will be applicable mainly to those e-2W and e-3Ws registered for commercial purposes.

L5 Electric Three Wheeler
About: Category L5 means a three wheeled motor vehicle with maximum speed exceeding 25kmph or motor power exceeding 0.25kW, if fitted with an electric motor and the vehicle shall normally be used for carrying persons or carrying goods.
Types: Further this segment is categorised in two sub categories i.e., L5N and L5M for Goods career and Passenger vehicle respectively.

- Further, in addition to commercial use, privately or corporate owned registered e-2W will also be eligible under the scheme.
Mandate: The scheme mandates that only vehicles equipped with advanced batteries will be eligible for incentives, aiming to ensure the promotion of high-quality and efficient electric vehicles.
Subsidy Offered to Electric Two wheelers: Electric two-wheelers will get a subsidy of Rs 5,000 per kilowatt-hour (kWh) with a maximum limit of Rs 10,000 per vehicle under the new scheme
Subsidy offered to Rickshaws: Rickshaws and carts will get a subsidy of Rs 5,000 per kWh with a limit of Rs 25,000 per vehicle
Subsidy Offered to L5 Electric three wheelers: The per-kWh subsidy for L5 electric three-wheelers is also set at Rs 5,000, but it’s capped at Rs 50,000 per vehicle

Additional Reading: FAME II

News Source: PIB

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